Some firms in the technology sector have achieved economies of scale because costs have been reduced by:
A. network effects.
B. fair-return pricing.
C. price discrimination.
D. rent-seeking.
Answer: A
You might also like to view...
The length of time before policymakers realize they need to intervene in the economy is called the
A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.
One of the key reasons why monopolies exist is:
A. there is easy entry and exit into and out of the market. B. the goods sold are highly inaccessible to buyers. C. there are barriers to entry into the market. D. geographical differences.
The quantity of domestically produced goods and services that households, firms, the government, and customers abroad want to buy at each price level is shown on the
a) aggregate-goods curve. b) market-demand curve. c) aggregate-demand curve. d) aggregate-supply curve.
Which of the following is a feature of a contestable market?
A. There is a single firm in the market serving many consumers. B. There is a single firm in the market serving many consumers and the market price is equal to marginal cost. C. The market price is equal to marginal cost. D. There are several firms in the market serving many consumers.